Which of the following "quotations", according to chapter 23, best summarizes Keynes conclusions about the lessons of the depression for the nature of capitalism?
a. "It is in determining the volume, not the direction, of actual employment that the existing system has broken down.".
b. "An economic system that forgets to find work for millions of men and women, cannot be trusted to perform any task in an intelligent fashion.".
c. "The depression is essentially a problem of reliance on a private banking system for the provision of an inherently public good, money.".
d. "The rules of sound finance, namely stable prices and balanced budgets, apply as much to the present crisis, as they do in more pleasant times.".
a. "It is in determining the volume, not the direction, of actual employment that the existing system has broken down.".
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The first country to adopt inflation targeting was
A) the United Kingdom. B) Canada. C) New Zealand. D) Australia.
Which school of thought argues that because people anticipate the consequences of announced government policy and incorporate these anticipated consequences into their decision making, they end up undermining government policy?
a. neo-Keynesian b. Keynesian c. monetarist d. supply-side e. rational expectations
Suppose u = unemployed and seeking work; e = those employed; and nlf = those in the population but not in the labor force. According to the BLS, the unemployment rate is
a. u/(e + nlf) b. u/e c. u/(u + e) d. u/(e + nlf) e. u/(u + e - nlf)
The federal agency that monitors and regulates the stock market is the
a. Chicago Mercantile Exchange. b. Securities and Exchange Commission. c. Department of Justice. d. Federal Trade Commission.